(Reuters) -Indian shares inched higher on Thursday, led by Adani Group stocks and heavyweight HDFC Bank, while IT firms slipped amid resurgent uncertainties over the trajectory of U.S. interest rate cuts.

An analyst tracking HDFC Bank has a price target of as high as ₹2,550 on the stock, which implies a potential upside of 40% from current levels.

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HDFC Bank, India’s largest private sector lender, achieved a significant milestone as its market capitalisation crossed the Rs 14 trillion mark for the first time during Thursday’s intra-day trading on the BSE.

HDFC Bank stock hit its record high of Rs 1836.10 on Thursday amid a big correction in the broader market. Market cap of the bank stood at Rs 14.01 lakh crore today.

After hitting a new all-time high of Rs 1,810 on Tuesday, HDFC Bank shares have slipped and are now hovering around the Rs 1,800 mark. This level has historically been a key resistance zone, with the stock reversing from this region on several occasions.

HDFC Bank's market capitalization reached Rs 14 lakh crore for the first time on Thursday after its stock hit a fresh record high of Rs 1,836.05 on the BSE. The market cap peaked at Rs 14,00,710 crore before slipping amid profit-taking in the broader markets.

HDFC Bank's market capitalisation surpassed ₹14 lakh crore for the first time on November 28, with its stock reaching a new high of ₹1,836.05.

In the past six months, HDFC Bank has outperformed the market by surging nearly 20 per cent, as compared to 6.7 per cent rise in the BSE Sensex.